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'A new team is in place. Expect a very good Budget'

Soon after Finance Minister Yashwant Sinha finished his speech after inaugurating the Investors' Grievances Forum's Jaago Investor Abhiyan (the Wake-up Investor Movement) at the Bombay Stock Exchange on Thursday, a posse of media-persons surged towards him for sound-bytes. A weary, wary Sinha, reeling from a function-filled day in India's commercial capital, agreed to speak for "just two minutes".

Associate Editor Y Siva Sankar was among the media contingent to make the most of the minister's munificence.

This year's Budget is being shaped by a new team. What can one expect?

(Longish pause). A very good Budget. Expect a very good Budget.

Yesterday, you have said that this year's Budget will give economic reforms a 'human face'. Please elaborate.

Where did I say that?

In Delhi.... At least that's what media reports said.

I said that the prime minister took a (pre-Budget) meeting. In that meeting, we were discussing the issues of people-friendly economic reforms. That is what I had said.

Would there be any glad tidings for the Indian Middle Class in this year's Budget?

Wait for the Budget. How can you expect me to talk about the Budget today? If you ask me to preempt the Budget today, I can't do it.

Would you like to say anything on Governor George W Bush becoming the US president and what this signifies for the Indian economy?

I think I am too small a fry to be commenting on such momentous matters.

Would you like to say anything on the interest rates in India, in the wake of the US Federal Reserve's recent cuts in rates?

Nothing. It's for the RBI governor to decide.

Are you concerned about the rising fiscal deficit?

Fiscal deficit will be a concern everywhere, not just in India. Of course, it is a matter of concern. Nobody has said that it is not a matter of concern. Are we doing something about it? Of course.

Would you revise the divestment target in this year's Budget?

I don't have the time to say anything important at this point.

How important do you think is the Bombay Stock Exchange?

I think it is very important. It has a very important role to play in the overall economy. This is the place where they get the monies for investment in the economy.

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